McAfee to amend option grants to former execs, directors

GabrielMadway

SAN FRANCISCO (MarketWatch) -- McAfee Inc.
MFE, +0.37%
said late Friday it will amend certain stock options grants made to former executives and certain current directors. The Santa Clara, Calif.-based security software maker said the changes represent a small subset of the overall measurement date changes and strike price changes that it expects to make in the future as a result of its stock option review and pending restatement. As part of its actions, McAfee said it is amending grants made to former Chief Executive George Samenuk and former President Kevin Weiss. Samenuk and Weiss were forced out of their posts in October after an internal probe found that the company improperly accounted for up to $150 million in stock-option costs. McAfee added that it is correcting "clerical errors" associated with stock options grants to directors Leslie Denend, Denis O'Leary and Liane Wilson. The company said none of the directors were aware of the errors.

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